Help to buy (1 Viewer)

[Marty]

http://hoa.org.uk/advice/guides-for-homeowners/i-am-buying/first-buy/

What are peoples opinions on this?

I think it's quite good but the money could have been better spent on building social housing.

 

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[jimmyhillsfanclub]

http://hoa.org.uk/advice/guides-for-homeowners/i-am-buying/first-buy/

What are peoples opinions on this?

I think it's quite good but the money could have been better spent on building social housing.

I think its one of the dumbest ideas since invading Iraq.

Its reckless, naïve & will fail to achieve its main aim (helping folks on or up the ladder) whilst helping to fuel another (southern-focussed) housing bubble......UK homes in general are still approx. 20% over-priced now according to the IMF......and that's despite their value currently being about 15% lower than 2007 peak!

Did they learn nothing from the last monumental fuck up of excessive borrowing against over-inflated house prices......its all part of the current governments ploy to encourage this fragile consumer lead recovery.....only possible due to artificially low interest rates as the whole western world tries to inflate the debt away.


Dumb. As. Fuck.

 

[lewys33]

I am much more interested in the new scheme they are going to be bringing out this week which is 95% mortgages on all housing. To me new houses are not built as well as older houses and are too expensive. I am only 23 so trying to get a 95% mortgage has been difficult, so with the new scheme they are bringing out it could help me get the 95% mortgage I need to get me on the market. Worrying thing for me is that this new scheme may shoot house prices through the roof which is only helpful for people already on the market.

 

[lewys33]

http://www.bbc.co.uk/news/business-24430010

 

[We'll_live_and_die]

I really hope this works. Purely on the basis that I am trying to sell a two bed terrace in Bedworth and I'm hoping it will bring more FTB to the market that could potentially be looking for a place like mine.

 

[Marty]

I am much more interested in the new scheme they are going to be bringing out this week which is 95% mortgages on all housing. To me new houses are not built as well as older houses and are too expensive. I am only 23 so trying to get a 95% mortgage has been difficult, so with the new scheme they are bringing out it could help me get the 95% mortgage I need to get me on the market. Worrying thing for me is that this new scheme may shoot house prices through the roof which is only helpful for people already on the market.

It will inflate prices but shouldn't create another housing bubble if managed well, from what I've read/understood the bank of England are keeping a very close eye on it and any sign of another boom and the scheme will be closed.

 

[Marty]

I think its one of the dumbest ideas since invading Iraq.

Its reckless, naïve & will fail to achieve its main aim (helping folks on or up the ladder) whilst helping to fuel another (southern-focussed) housing bubble......UK homes in general are still approx. 20% over-priced now according to the IMF......and that's despite their value currently being about 15% lower than 2007 peak!

Did they learn nothing from the last monumental fuck up of excessive borrowing against over-inflated house prices......its all part of the current governments ploy to encourage this fragile consumer lead recovery.....only possible due to artificially low interest rates as the whole western world tries to inflate the debt away.


Dumb. As. Fuck.

Some very good points. I agree with some, the telling point will be mid 2018 once the government want their money back. Are people smart enough to understand/remember that in 5 years their re-payments will go up? IMO, No. I can see some cheap houses coming onto the market 2018-2019.

 

[jimmyhillsfanclub]

Some very good points. I agree with some, the telling point will be mid 2018 once the government want their money back. Are people smart enough to understand/remember that in 5 years their re-payments will go up? IMO, No. I can see some cheap houses coming onto the market 2018-2019.

....sooner or later, there will be a proper housing market crash in this country.....the only reason it didn't happen as part of the fall-out after the financial meltdown in 2007/8 is the suppressed interest rates.....

...The people of this nation are hooked on cheap credit.....it cannot & will not last forever....